Conio: Italian crypto dealing, custody routes and Prime pricing

Conio is an Italian crypto dealing and wallet service. Customers buy, sell and convert assets directly with Conio; they do not place competing orders on a public Conio matching exchange. The company constructs quotes from other platforms’ order books, weighted by the preceding 24 hours’ trading volumes. This makes the binding quote, commission and settlement route more relevant than a maker/taker schedule.[1]

The buy guide explicitly warns that a completed Bitcoin purchase does not immediately enter the on-chain Wallet. The client uses a separate transfer function when they want the Wallet’s sending, receiving and multisignature controls. The two balances can appear in the same app, but their operational treatment should not be assumed identical.[5]

Conio’s June 2026 execution-policy summary has a much narrower subject than its title might suggest: Token Box ebitts orders associated with placing that token. It describes issuer-set pricing and off-platform execution. Those provisions are not evidence that ordinary Bitcoin or Ether purchases receive a multi-venue best-execution comparison.[17]

The advertised 0.99% is not the entire price difference from an external market reference. Conio embeds a spread in its quote and publishes a 4% ceiling. The displayed quote lasts five minutes; an unconfirmed expired quote must be requested again. The app chart is indicative, not a price at which an order can necessarily be executed.[1]

The Direct fee appendix specifies a conversion spread up to 2% on each asset, plus 0.99% commission. Use the actual conversion quote rather than assuming a single uniform spread calculation.[14]

Prime offers a different dealing process: request a quote from the assigned trader, confirm it, then pay. Its page advertises no need to deposit euro capital upfront. That description does not establish a credit facility or permission to delay payment indefinitely. Access is arranged through [email protected]; no independently verified public WhatsApp number is supplied here.[4]

For example, a EUR 50,000 BTC trade and a qualifying EUR 250,000 wallet would use the 0.65% wallet tier, producing EUR 325 by simple multiplication. This is illustrative spread arithmetic, not an executed quote. The promotion is scheduled to end on 31 October 2026; future Prime pricing must be checked again. Higher-tier app benefits have additional qualification conditions.[3]

The retail funding workflow uses euro liquidity: top up first, buy from that balance, and receive euros there after a sale. The published instructions require an Italian payment source in the customer’s own name. Bank-transfer funding requires the additional questionnaire and approval; the guide says that verification may take a few days. Account-specific funding limits appear in the app.[5]

External asset transfer is less uniform than buying and selling. The current Ether FAQ says ETH can be traded or converted but cannot yet be deposited or withdrawn. It therefore does not support treating the app as an ordinary Ethereum receiving wallet. Sending ETH to a Bitcoin address, or assuming that a tradable asset has a deposit address, is not a supported funding workflow.[6]

The June policy’s manual route and the broader Ether FAQ restriction are not fully reconciled publicly. This profile preserves both. The policy also gives an estimated five-day maximum for automatic transfers, subject to checks and network conditions; its instant-processing description is not a guarantee of instant blockchain finality.[16]

Assets holdings remain the customer’s property but are aggregated with other customers’ holdings in wallets separated from Conio’s own assets. Individual ownership is tracked in the internal ledger. This is pooled custody with separate accounting, rather than a claim that every customer has an individually segregated blockchain address for every coin.[7]

The Bitcoin Wallet uses two signatures from three keys. The client’s device controls one, Conio supplies the second at the client’s request, and an offline recovery key supports emergency recovery. Conio describes recovery even after credentials and the twelve-word code are lost, and for a technical failure affecting Conio. This is a documented recovery process, not evidence that funds can always be retrieved instantly without verification.[8]

The Direct risk annex identifies sub-custodian insolvency, reconciliation errors and delayed asset return. Crypto is not a bank deposit. No verified per-client crypto insurance limit was found.[14]

The Direct contract requires Italian residence and permits individual customers from age 18, with identity and payment-source checks. Its direct relationship should not be confused with a bank-distributed Conio account, whose features and contractual route can differ.[14]

The app PIN, a transaction’s second factor and a recovery key are different controls. Protecting one does not replace the others. The inspected security page describes how to strengthen access, but does not establish a universal post-recovery withdrawal waiting period or a recovery response-time guarantee.[9]

For a lost or stolen device, the Direct terms instruct clients to email [email protected] immediately to request a Wallet block.[14]

Conio says its Italian support team does not use bots. Its service-hours statement is not a 24/7 emergency-dealing commitment. Prime’s trader chat is a distinct service, not documented as a universal fallback for an interrupted retail app order. A support conversation should establish the recorded transaction state before the customer attempts a replacement instruction.[10]

The April 2026 complaints policy provides acknowledgement or a request for missing information within two working days. A substantive reply is due within two months, except exceptional cases explained to the customer with a revised date. Complaints are free and may be submitted in Italian or English. The policy distinguishes a complaint from routine technical support and keeps complaint responsibility with Conio, rather than its partners.[18]

Conio’s current disclosure identifies six authorised service categories: custody, crypto/fiat exchange, crypto/crypto exchange, client-order execution, placing and transfers. The company’s authorisation announcement distinguishes retail app access, bank integrations and institutional projects; it also acknowledges that some tokenisation work falls outside MiCAR. Authorisation should therefore be matched to the service actually being used.[12][19]

Consob’s official indexed newsletter identifies Conio Srl’s authorisation under resolution 24043 of 16 June 2026. The detailed Consob pages returned access blocks during this review, so the complete current register entry was not independently inspected. Conio’s direct-dealing description and contract do not describe permission to operate a public matching platform; no such exchange-operator licence is asserted here.[13]

Conio says it was founded in 2015 and is backed by Poste Italiane and Banca Generali. Its current, undated company page reports more than 450,000 retail customers. That is a company-reported customer total checked on 21 October 2026, not a count of active traders, funded direct-app accounts or customers trading during the month. No independently verified spot-volume rank was established.[11]

The business offering includes Conio Broker, which lets institutional partners integrate buying, selling and settlement into their own customer experience. This helps explain why the company’s distribution is broader than downloads of its standalone app. An institutional integration does not automatically inherit the Direct tariff, and the partner’s actual agreement determines which functions reach its customers.[25]

Operator

Conio S.r.l.

Exchange model

Centralised

Service scope

Direct crypto dealing through the Conio app, a separate on-chain Bitcoin Wallet, Prime OTC Bitcoin dealing and institutional integrations. The company is not presented as a public order-matching exchange.

Client types

Retail clients; Institutional clients

Pricing publication

Public pricing

Headquarters

Milan, Italy

Pricing scope

Standard app commission is 0.99% plus the embedded quote spread and other applicable charges. Prime promotional spreads are time-limited through 31 October 2026.

Funding scope

EUR card and bank-transfer funding; Bitcoin Wallet transfers. App restrictions and the June 2026 manual asset-return policy differ, so non-BTC withdrawal availability needs route-specific confirmation.

Custody and asset handling

Pooled Assets custody with individual records differs from the Bitcoin Wallet’s two-of-three signature arrangement. Selected third-party custodians and recovery procedures apply; no per-client insured balance is established.

Client eligibility

Direct retail access requires Italian residence, age 18 or older and accepted identity checks. Italian payment sources must be in the client’s name; partner channels have separate arrangements.

Support

In-app and website chat; [email protected]; published weekday 09:00–18:00 hours without an explicit timezone. Separate complaints form, postal and email routes.

Authorisation and registration scope

Conio states MiCAR CASP authorisation for six specified services. Consob’s official indexed June 2026 newsletter corroborates resolution 24043; detailed regulator pages were blocked. No public trading-platform operating permission or universal deposit protection is claimed.

Exchange metadata checked 21 Oct 2026Source 1Source 2Source 7Source 16Source 10Source 12Source 13

Conio’s custody policy provides for quarterly information about held assets and funds, with additional electronic statements available on request. The SDK separately documents a year-selectable trading report returned as a PDF. These establish reporting capabilities; they do not establish that every retail screen provides a particular CSV format or that the PDF is a complete tax filing for external transactions.[15][24]

The stamp-duty FAQ says Conio calculates and pays the relevant amount, then charges the customer. Its published description uses 0.2% of period-end crypto value, excludes euro cash and specifies a EUR 1 minimum, including an active period ending with no holdings. This is the provider’s collection description, not a determination of a particular reader’s tax liability. Check the charge shown in the app for the relevant period.[20]

The SDK’s permissions response controls which services a user can access: an absent permission means the related operation will fail. A documented function is therefore not a blanket entitlement for every account. Production onboarding, partner configuration and customer permissions need to be distinguished from publicly readable developer documentation.[21]

SDK buy and swap calls also separate preparation from execution. A purchase takes an existing bid identifier and a cryptographic authorisation; a swap takes the corresponding quote identifier and signature. The swap documentation warns that an intermediate result can still end in an error and provides status polling. An API response should not be treated as completed settlement unless its documented final state supports that conclusion.[22][23]

Institutional governance material advertises financial reporting and first- and second-level support as services for integrating firms. No retail copy-trading mandate or autonomous AI trading service was established in the reviewed product material. Integration and reporting automation do not themselves authorise another party to make investment decisions for the customer.[26]

Clients can request closure without fee or notice; final deletion requires a zero balance. Conio gives 30 days’ notice, except termination for just cause. No separate inactivity-fee duration was established.[14]